Mastering Real Estate Agility: Insights from a 30-Year Investor

Dylan Silver (00:01.247)
Hey everybody, welcome back to the Real Estate Pros podcast by Investor Fuel. I’m your host, Dylan Silver. And today on the show we have Charles Rashid. Charles is a full cycle real estate investor with 30 years in real estate. He is a commercial investor, lender and coach. Charles, welcome to the show.

Charles Rashid (00:23.234)
Thanks, Dillon. Nice to be here. Appreciate you having me.

Dylan Silver (00:25.349)
Absolutely, absolutely, absolutely. So when I first got started in real estate about two years ago, people talked about you haven’t seen everything until you’re a full cycle investor. And so you’re a full cycle investor and then some. you’ve seen the ups and the downs multiple times. But tell me about your first deal, how you got in. We talked a little bit about the show started, but tell us about that first deal.

Charles Rashid (00:51.512)
Sure, so I wasn’t a great student growing up. I was always interested and motivated by money. And so I started looking around at all my friends and my dad’s friends that were financially successful and wealthy. And I realized they all had a common theme. They all invested in real estate, owned real estate in some form or fashion. So I decided I was going to be a landlord. And so I started looking at real estate. I had bought a

Dave Del Dotto’s real estate investing course. And he was like the painter that lived in a one bedroom apartment came from nothing. so I got the basics there and then I went to work and there was no apps or so I would circle the newspaper ads drive around, make phone calls, crunch the numbers. And I probably made over 100 offers before I got my first offer accepted.

Dylan Silver (01:31.924)
Okay.

Charles Rashid (01:46.604)
It was an eight unit apartment building that I bought with no money down. The rents were low, 280 to $300 a piece, central air, two bedroom, one bath each. This was, you know, 1990, 1991. The owner, I happen to know them, their son went to school with me and I just made them an offer that they take a second for the down payment. I got a pre-approval letter from the bank and I

Dylan Silver (02:02.804)
Yes.

Charles Rashid (02:16.027)
Own the piece of property I think I walked away with five grand for improvements at closing but I literally didn’t know anything about real estate at that time. I the first phone call I got was a leaking toilet and I had to go figure out how to fix a toilet and you know just nonstop learning but got in the trenches and it’s been I’ve loved it ever since. mean not one day has gone by that I don’t get excited about real estate.

Dylan Silver (02:34.962)
Okay.

For our Gen Z people listening, this was before YouTube, this is before TikTok, before Instagram, Charles had to crank out a book and learn how to get into this deal here. Charles, where did you at 20 years old, most people are trying to get in later and they’re struggling to get in trying to figure out how they can do it.

Where did you have the courage, the wherewithal to say, I’m gonna take an eight unit apartment deal down and was it in your blood? Did you have mentors? How did you go about?

Charles Rashid (03:20.348)
Well, yes, I did have mentors. Like I said, I bought that course from Dave Doudato. I have a couple friends that are older than me. They were about five years ahead of me in the process, and they had a couple of apartments. I could bounce ideas off them. And at the time, I think minimum wage was like $3.35 an hour. So to me, it wasn’t a risk. It was a risk not to move forward. The rents were…

I immediately raised them to $325 a month. I think the average now is probably not nationwide, it’s probably over $2,000, but I’m in West Virginia and it’s probably $1,000 a month. Just a little things like that. And when you were talking about going to read a book to figure it out, there was no YouTube. I literally went to Lowe’s, looked at the DIY book to figure out what it was that I was trying to figure out whether it was

Dylan Silver (03:54.77)
Thank you.

Dylan Silver (04:05.523)
.

Charles Rashid (04:19.195)
changing an outlet or soldering some copper pipes, pecks wasn’t around then, or fixing a leaky toilet. And then I’d go back and just struggle through it and fix it, painting it. know, I learned the entire thing from necessity.

Dylan Silver (04:36.328)
From yeah real world experience you have a plan until you get punched in the face, so That that’s a heck of a way to start

when, when you went ahead and got that deal under contract, it was no money out of pocket. Like you had said, how did that deal get structured?

Charles Rashid (04:55.343)
So I went to a bank and found out what I could get approved on based on the rent. They loaned me 75 % of the purchase price. I think I bought it for $175,000 and the owner took back a second for $40,000 or $50,000 and the bank financed the balance on a first deed of trust. So I had a mortgage with the bank. I don’t remember the numbers now. And then a mortgage with…

the seller that I paid them monthly at $300 or something a month for 15 years. later, after I fixed them up, got them all rented, got the rents increased, paved the driveway, replaced windows, whatever needed replaced over time I did it. And then about seven years after I owned it, I called the sellers and I said, hey, would you take 60 cents on the dollar? they, at the time they said they were in a position to do that.

Dylan Silver (05:22.706)
Mm.

Dylan Silver (05:27.996)
You

Charles Rashid (05:50.679)
I paid them off, refinanced the property, owned it for 20 or 25 years. It was a great piece of property and it taught me. I’ve often thought about going back and buying it again for nostalgic purposes.

Dylan Silver (06:05.554)
That could be your album cover, the trend where you put your first home on the album, you know, and it’s got the adult advisory in the bottom corner. But the fact that your first deal was a creative deal, where you didn’t come out of pocket, you know, these deals for our newcomers, you see it all over now, you know, no money, you can get into real estate, cash for keys, this type of deal. But this wasn’t, I can’t imagine it was

Charles Rashid (06:11.736)
Yeah.

Dylan Silver (06:34.993)
popularized back then. how did you educate? it was it was it in your your

Charles Rashid (06:41.839)
It was a thing back then. Robert G. Allen. There’s an author, Robert G. Allen. has multiple streams of income. He did a challenge back in the 80s. You can drop me in any city with 100 bucks and within three days I’ll own a piece of property. And so it was out there. It was definitely challenging. like I said, I’ve made over 100 written offers just to get that.

Dylan Silver (06:44.899)
Okay, you had to get into the books.

Charles Rashid (07:07.785)
that right seller in the right position to do it. And ever since I’ve done most of my deals that way, including a $10 million commercial project just a few years ago with no money down. to this day, my banks and the seller always say, you can’t get that done. And I’m like, you can get it done. It’s not.

Dylan Silver (07:11.045)
Yeah.

Dylan Silver (07:29.753)
Watch me.

Charles Rashid (07:33.054)
Not to say it’s not challenging, but it’s possible for sure. You find the right motivated seller, you find the right bank that you have a good relationship with, and you have the right path forward or the right plan for the property that makes sense, and you can make it happen.

Dylan Silver (07:47.803)
could talk about this first deal all day. So I don’t want to take up more your time with that. But I do have one last question, which is you’re writing 100 offers, but with, you know, some training, but it’s not like you’ve done this a whole bunch of times before. What were you using as a guide to write these offers? Just what you saw in the books?

Charles Rashid (08:06.08)
Partly trial and error. I had an uncle in New York that was a realtor, I mean an attorney. I would at first he gave me all this language and that was just like squashed immediately. But I learned okay there’s a few things here and there that I’d like to do. And the bottom line was if I could get it financed and I hadn’t out in case there was a problem. Those were the things that I really wanted because I didn’t want to get stuck or get hurt.

Dylan Silver (08:09.457)
Hahaha

Charles Rashid (08:35.648)
And so, and it was just literally trial and error. It started from like a seven page addendum of all the crap that nobody even looked at because it was trying to tie it up so tightly to, okay, I’ll buy it as is with a couple contingencies.

Dylan Silver (08:35.751)
Yeah.

Dylan Silver (08:52.686)
We went through everything a hundred offers. It’s funny because that’s actually what I’m doing right now is not not probably not a hundred but like sixty to eighty a month on a personal note. But fast forward a little bit to I guess today or or maybe not today but a couple for the last couple of years. You mentioned an interesting strategy for folks who are maybe having a home that’s sitting and that involves Airbnb which I hadn’t I hadn’t.

heard in that great detail, walk us through that a little bit.

Charles Rashid (09:25.469)
Yeah, so I, over the years, I became a money lender to folks flipping houses. I have some partners that were flipping about 100 houses a year. We together own 300 or 400 houses that we’re buying and holding now long term. But they had four or five houses that were just sitting on the market for months at a time. And before I get into it, I don’t love the idea of flipping houses.

I like it in conjunction with buy and hold and some commercial, to me it’s just you’re working hard all the time for that one time payout. And I was always a believer of buy and hold, using leverage, using the tax system for depreciation, allowing your tenants to build your equity for you and make the payments, writing off all the maintenance and all that kind of stuff. So I was trying to get them into

buying and holding more often. But they had these five houses that were just killing their, one, it wouldn’t free up their availability from their lenders to go do more deals. They had a million dollars tied up in five houses. So I said, let’s just stage them. Let me stage them. And I’ve done some YouTube videos about them. Let me stage the house. So I bought all the furniture. I took all the risk. I put them on the Airbnb, VRBO, booking.com, Expedia, hotels, all those sites.

Dylan Silver (10:35.408)
Thank

Dylan Silver (10:41.815)
Okay.

Charles Rashid (10:53.7)
And we started generating like three or $4,000 a month. I subtracted the utilities. They paid the utilities, which I paid for. They paid for their mortgage and everything. And then we split the difference. I took 60 % of what I generated. And I had a contract that if it sold immediately, then I would just get a percentage of the purchase price to recoup my furniture expense and the time I put in.

Dylan Silver (10:55.33)
So, going to go ahead and the first

Charles Rashid (11:20.968)
But the benefits to them and how I sold it to them was you have this property that’s kind of tired. It’s been on the market. Realtors are overlooking it. They might walk in and there’s cobwebs on the door or rat droppings or a leaky faucet or something that they didn’t expect HVAC not working. So I’m like, I’ll keep the yard manicured.

Dylan Silver (11:24.921)
So,

Charles Rashid (11:43.9)
I’ll have it cleaned after every guest. So every week it’s going to be in perfect condition to show the property. It’s going to be staged. I hang pictures on the wall. I set the dining room table. mean, it really looks, you know, they look nice and fully staged, but without the expense of staging, paying a staging company. And here in West Virginia, we don’t have a staging company. and, and with, without exception, all five of these houses,

Dylan Silver (11:58.858)
Yeah.

Charles Rashid (12:11.716)
sold within five months. it was a matter of giving the buyer, the potential buyer, that vision of how it would look, how it lays out, how it flows. And sometimes we sold all the property with it, which was a bonus.

Dylan Silver (12:30.344)
Is the the seller I’m assuming maybe initially Unaware that they could Airbnb out their home in the process of selling it. How is that process being presented to them?

Charles Rashid (12:43.482)
Well, it depends on the city and the ordinance and all that if it’s allowed. yeah, it just was a concept that I developed. I was speaking to 400 realtors in California. And the same concept goes for them. Give yourself a competitive advantage as a realtor. A house is maybe too expensive on the market. So every realtor

wants to walk past it because they just see it’s gonna sit forever but if you can bring this added value earn some commission in the meantime get it staged help the seller offset their expenses on a debt asset and and get it sold then that’s a great twist but as far as your question about is it legal or how could they do it i mean again it goes back to

the ordinance of the city and if it’s allowed, which most cities it is allowed, you get a rental license, but it’s just a matter of thinking outside the box and how to maximize your profit potential. And I’m all about if I got a dead asset, let’s get rid of it or figure out a way for it to make money. You know, I rent cars on Turo, I rent real estate, everything I do is about renting it to somebody else to have them pay for it.

Dylan Silver (13:40.814)
.

Charles Rashid (14:03.351)
and allow me to use it when I want.

Dylan Silver (14:06.186)
And for our listeners, the avatar of our listener is someone who’s doing 50 plus deals a year, but we also have some newcomers. there’s two things that I want to hit on that Charles pointed out. First is that if you’re a fix and flipper, or if you aspire to be a fix and flipper, hold on to some property. Hold on to some property. I’ve interviewed guests now and…

that have some other podcast hosts who are doing the same for real estate pros and the biggest regret for every single guest almost to a T is I wish I held some rentals. I wish I didn’t sell, you know, and going back like 20 years or sometimes more, you look at how much, you know, yeah, they sold it for $20,000 profit then but look at what it would be worth now and it’s real wealth, you know, and so you touched on that saying like,

This process, it’s you know, catch and release almost, you know, it’s burned fast. It’s not a it’s not you’re doing something other than what, know, the real estate game seems to be about. mean, for sure, there’s fix and flippers. But when you’re talking about building wealth to that degree, it’s not it’s not in that necessarily.

Charles Rashid (15:22.36)
Yeah, I didn’t even touch on the appreciation aspect of it. So most fix and flippers have short-term loans, construction loans, hard money loans. So once you get it fixed, you know everything you’ve done to the property. So you’re not going to have issues. You got new appliances with warranties. You got probably new HVAC, new electric, new roof. You’re not going to have any maintenance for five plus years. You go to a bank, you get a traditional investment loan on 20 years, 25 years.

and then you run it either short term, mid term or long term, tenant pays all your bills, they put the utilities in their name, they build equity for you over time, you get all the appreciation, and it’s just a win-win. mean, yeah, it’s hard to live on that, but if you take 10 % of your flips, the ones in the right location, the right properties, three bedroom, two bath, or something that’s easily sold at any time,

you get in a bind, it’s just it’s a no-brainer in my mind.

Dylan Silver (16:23.838)
Yeah, I mean I said this before we hopped on the AMG looks nice But you know the AMG is pretty expensive in a downturn so you want to you want to hold on it You know like Charles said 10 %

And again, it’s the biggest regret. It’s the biggest regret that I hear. But going back to the Airbnb model, this is another thing that stuck out to me is agility. You have to have some level of agility in this game. You can’t be doing necessarily. And I think it’s very rare that someone does the same thing for 20 years in real estate. It’s just rare. It’s just rare. What I’ve seen, having done these podcasts now is

It is the typical trajectory. is not carte blanche, but this is what I see is people will go from learning about it, not sure how to get in networking, probably making some mistakes, wholesaling, which is pretty common now, getting their first deal, doing fix and flips, and then scaling that sometimes and I’ve heard this to people get burnt out or they take a big loss and then maybe that

that some cold water that they don’t want to want to get into again and kind of burns them out. But if it doesn’t scare them away and they can lick their wounds get back up they get into commercial they get into note buying or they become a landlord themselves. And you also you’re a coach. So I’m curious what your perspective is on kind of the trajectory of the real estate career and also talk about that agility.

that you have to be able to adapt.

Charles Rashid (18:01.912)
Yeah, so first of all you know times change economies change interest rates change so you have to be. Willing and able to pivot. Because what worked thirty years ago it may still work now but i’m seeing a lot of guys now getting stuck with the interest rates triple from where they were. Not the property of cash flow it’s not moving as fast it’s not worth as much. So having that ability.

to pivot, I think is key. You mentioned commercial property. I caution people on commercial property. It can be great when it has a triple net national tenant, but when they go out and you got a big box empty, I mean, it can bankrupt you real quick. There’s a lot more risk involved. Once you get a tenant that pays, you’re golden. It’s the best thing on earth, but it can go south.

Dylan Silver (18:48.81)
Mmm.

Charles Rashid (19:00.687)
We have a grant here. I’m just finishing up a brand new construction flip that I’m doing. I got a $35,000 grant through our city of Charleston, West Virginia. And it’s great. It helps offset the cost. And it basically just drops right to the bottom line. As far as Airbnb, I grew up in the hotel business. I’ve worked in every single department in hotel, so I know how it works.

And I thought, you know, I kept hearing about Airbnb back in the decade ago. I’m like, if I took my knowledge from the hotel business and kind of turned it towards the Airbnbs, I think I could really dominate the market. Just simple things like revenue management. Most guys on Airbnb just set their property at 100 bucks a night and they’re cleaning at $50 a night or $100 a night. And then they forget about it.

Dylan Silver (19:44.436)
Thank

Dylan Silver (19:50.352)
Thank

Charles Rashid (20:00.002)
But what they don’t realize is there’s going to be days that holidays or events in the city that they can command three times as much rent per night. And then there’s also going to be days that it’s dead, middle of week in the middle of winter, that they’re not going to get anything. So I look at the calendar every year, every single event, every holiday, double or triple my rent. The slow season, I drop it in half or less. So I maximize.

Dylan Silver (20:08.474)
Yep.

Charles Rashid (20:29.836)
my occupancy and also maximize the, it’s called RevPAR, revenue per available room.

Dylan Silver (20:37.097)
Rather selfishly, I have a specific question about doing this remotely. Myself and I think a lot of people want to know, and there’s differing opinions on this, I’ve heard both sides, is it really feasible for the investor that’s seasoned but they’ve been doing their process in person, meaning they’re there, they have people on the ground but they’re there, is it feasible for them to do this remotely if they want to move out of the country?

Right. they if they’re like, hey, I’m moving to, you know, who Argentina, I’m moving to Argentina. I like the the the culture over there. How can I do that? And I’ve heard two perspectives. Number one, you have to have processes and people in place. And the other perspective is you really can’t like it’s a very limited group of people who can do that. And you basically that that has to be your thing. Your thing has to be processes and people. What’s your perspective on that?

Charles Rashid (21:36.789)
No, I disagree with that. You absolutely can do it. And I’m kind of more old school. I have all the processes and systems in place, but they’re really more in my head. I’m not as diligent as I should be. If you have the people in place, I have Airbnbs and vacation rentals in six or seven cities. And I manage them very, very limited part time from my phone. Takes me less than five minutes a day.

You have to have a cleaner. You have to have somebody that you can trust, trusted cleaner and a trusted maintenance person. And then with the internet, I can monitor the property by cameras outside. I can monitor the HVAC system by a nest or something that’s Wi-Fi enabled. And you have a water leak detection system. You can absolutely manage it.

from afar, never touching the property. Now, I haven’t done it in other countries. There’s a whole other level of complications there with other governments and that kind of thing, but there’s no reason why you couldn’t do it. The key is just having people that are on the ground that you can rely on.

Dylan Silver (22:37.065)
Hmm.

Dylan Silver (22:52.457)
Where do you see as the future of Airbnb? I know it’s hard to predict the future, we’ve seen, I know I’m in DFW, the greater Dallas area. When I was here a year ago, I was in Addison and there was a lot of talk that in Addison specifically, they were gonna either they did or they were going to disallow Airbnb specifically. Where do you see is the future of Airbnb? Because it’s such an interesting model.

Charles Rashid (23:22.388)
So I love it because you can triple the amount of revenue you get from a piece of property. I tell my students never buy a piece of property based on the revenue of what Airbnb or Generate because tomorrow the laws can change and then you’re out. So analyze the deal as if it’s a long-term rental. If the numbers work that way, then you’re going to be in great shape and you’ll be very happy.

Dylan Silver (23:49.394)
Yeah.

Charles Rashid (23:49.873)
as far as like the future, even if it’s not disallowed, there’s going to be ebbs and flows. There’s going to be people that get tired of it. They’re not going to do as well. They’re not going to keep it as clean. And those are going to fall to the wayside because they’re going to get bad reviews. People are going to stop staying there. And then there’s going to be people that really do a nice job, keep it clean, keep it well decorated, communicate properly and that kind of thing.

What I love about short-term rentals is I have units that are 59 bucks a night and I have units that are $4,000 a night. Everybody on the socioeconomic level needs a place to stay when they travel. So it’s not just, you know, you don’t have to pick only a slum or only a super high-end vacation home, everything in between. And it’s just like in the hotel business that, you know, hotels come and go all the time.

Dylan Silver (24:42.096)
No.

Charles Rashid (24:48.745)
They’re brand new, they’re demanding a lot, and then over time they kind of deteriorate and then they go to a lower tier franchise and then ultimately they get torn down and built something new on. It’s the same kind of cycle with Airbnb. They’re still wearing tear, you got to replace the furniture, but the money’s worth it. And if you get that system down and that process, I just train my people upfront what to do, the order to do it in, because even cleaning,

Dylan Silver (24:53.416)
Thank

Charles Rashid (25:18.481)
will, if they do it in the proper order, they can cut their time in half. But if you’re diligent on that kind of thing, and ease of use from the customer standpoint, I have keypads, one example, keypads on all my doors, batteries die sometimes, I always have a lockbox with a hard key in it when they have a problem at two in the morning, it takes me two seconds in a text to fix the problem instead of

Dylan Silver (25:23.012)
Yep.

you

Charles Rashid (25:47.347)
calling a locksmith or sending somebody out there. And so just little things like that over time you learn.

Dylan Silver (25:54.629)
There also seems to be some degree of, there is a trade off, right? So you do have to be more active in managing it to some degree if you don’t, if you’re new to it. But you also don’t have to worry about evicting people, almost never unless you have some fringe scenario. You don’t have to worry about that. So do you feel like on the whole the properties are kept in a better condition than if you would have rented them out?

Charles Rashid (26:24.166)
For the most part, yes. We have some construction workers that’ll come and stay for six or eight months and they’re very hard on properties, but they also don’t mind paying and I’ll get three, four, five thousand a month for just a regular three bed and two bath house that I would normally get 70, 89 dollars a night for and they’ll stay for months. I bought a house from HUD for

Dylan Silver (26:34.085)
Yeah.

Dylan Silver (26:50.458)
Ryan.

Charles Rashid (26:53.126)
$40,000 put 11 in it and my first tenant stayed for 11 months paid me like $72,000 first year. Yeah, I threw Airbnb.

Dylan Silver (27:02.054)
on Airbnb.

See, there’s some really specific Airbnb questions here. So for folks who are not involved in Airbnb, these are the type of things that you’ll have to decide on. Like, are you going to allow pets? Are you going to allow one night stays? When your calendar is completely vacant, are you going to freak out and lower price? Which you can. But just like Charles was talking about here, and I’ve seen it here in Denton, Texas, a vacant calendar could land a monster booking.

talking about most of the year. So you get a notification on your phone, you’re like, wow, I just got a two month booking on this property that I didn’t think people weren’t interested in. So as far as Airbnb goes, an empty calendar can sometimes be a good thing.

Charles Rashid (27:49.199)
So that’s another thing that I teach is keep your price high, higher than everybody else for that very reason. So the calendar is open long term so that one person, that traveling nurse or a doctor or a construction worker that needs to be there for six months will pay the full boat. And then within a week or two if you don’t get any bookings, drop the price. It’s just like an airline or an empty hotel room. It’s a disappearing asset. When that day’s over, it’s gone forever.

You already have the utilities, you already have the mortgage payment or the rent. And so it takes a little bit to get used to to get it set up and learn from your mistakes. But over time, I like it. I still have 24 active ones. I’ve been doing it for seven years. I’m still in it because I like to only teach what I’ve proven and how it works.

Dylan Silver (28:38.948)
Yeah.

Charles Rashid (28:42.307)
I love Airbnb. think it’s great. Any short-term rental, not just we all say Airbnb, it’s kind of like the Kleenex of tissue, there’s so many booking sites anymore. And I’ll tell you another way that I maximize my properties is I’m involved in a company called Third Home Exchange. So that $4,000 night house I have, it’s at a really nice resort near here. I put that into Third Home.

Dylan Silver (28:48.579)
The only one, yeah.

Charles Rashid (29:11.212)
And I trade a week of my house there for a week of a house in the system, which they have 11,000 homes around the world. So we travel around the world in these multimillion dollar homes that cost us a thousand bucks a week plus a week at our house. Third home. Yeah. And there’s three different ones. The club, which is a really high end deal, third home. And then I think it’s

Dylan Silver (29:25.733)
It’s called Third Home. I’ve never heard of it, but I love the idea.

Charles Rashid (29:40.085)
home swap or I can’t recall the last name but they’re like 300,000 homes of just people like if you live in Paris you’re going on vacation for a week you want to rent your house out or swap it for somebody in New York you just put it on this site and it’s just one more way to use that property that you have to enjoy traveling so it works well for us.

Dylan Silver (30:01.381)
Ciao.

We’re coming up on time here Charles but before we head off I do want to ask a little bit about Turo because I mentioned before we started that I was a car business guy. Couldn’t make it to the box couldn’t make it to F &I you know the finance officer so I ended up trying my hand in real estate I’m glad I did but how did you get into Turo are you a car you just love cars or how did that happen?

Charles Rashid (30:26.401)
Yeah, so I’ve been a new car dealer since I said, and I’ve been a Chrysler Dodge Jeep Suzuki Chevrolet Mitsubishi Vespa, Prelia, Piaggio club car dealer. So I’ve been a new car dealer for over 15 years. I just recently sold them and I’ve just always loved cars. I’m still I still have some used car lots and RV lot of motorcycle lot.

And I just like the concept of renting things like I said earlier, you know, it’s having somebody else pay for an asset that I want. And so I started Turo about two years ago. I just went all in, started a rental car company, got all the licenses. Turo is just one avenue that I use. I rent them directly as well. And it’s kind of the same thing as Airbnb. You know, finding out there’s a lot of errors in learning.

Dylan Silver (31:04.836)
Okay.

Dylan Silver (31:14.926)
Yeah.

Charles Rashid (31:20.482)
Over time, you learn the stuff. do tips and tricks. It is more intensive. You have to clean the car after every guest. You got to find the thing. They can steal it, which I’ve had happen. They can wreck it. I like it. think at this point, I’m about three years in and I’m just about doubling my money every year from my investment. So I like it a lot.

Dylan Silver (31:27.854)
I’ve heard that, yeah.

Dylan Silver (31:35.04)
Ugh.

Dylan Silver (31:45.164)
Wow.

Charles Rashid (31:49.41)
but it is more intensive. And I wouldn’t put something in the rental system that I love because it will get destroyed. It’s just, you know, it’s a rental car. And I wouldn’t buy anything out of my budget starting. I started with 25, $35,000 cars. Now I buy the three to $10,000 cars and the return is much, much better.

Dylan Silver (31:59.909)
It is a rental car.

Dylan Silver (32:15.338)
I love it. was thinking about putting my 2018 Dodge Challenger RT Plus on there. But Charles, how can people get a hold of you?

Charles Rashid (32:23.947)
So the easiest way is my website, CharlesRashid.com. C-H-A-R-L-E-S-R-A-S-H-I-D.com.

Dylan Silver (32:33.88)
Well, folks, well, folks, you heard it there. You can start with your first deal from 100 offers at the end of the day, owning multiple dealerships, selling them, doing some Turo coaching Airbnb. That can be your story, too. So this is another episode of the Real Estate Pros podcast. I’m your host, Dylan Silver. Until next time, see you.

Charles Rashid (33:00.146)
Take care now.